/biz/ - Business & Finance

yes

>>10498462
no

I'm afraid so.

>>10498462
>is it true?
you sound like you're fucking 5 years old when you ask that way. dyor faggot.

>>10498462
well, CL will come with basic reputation stats for general use cases but yes...

any contract that is worth anything will only accept data from oracles registered with a third party reputation aggregator.

it won't really be decentralized otherwise

No the reputation needs a contract on chain that we still need to develop.

No the reputation needs a contract on chain that they still need to develop.

>>10498673
>>10498711
larp?

>>10498791
its either really smart larping or a juicy mishap

>>10498487
>is it true that ____?
you sound like you're fucking 5 years old when you dont even read

>>10498791
Yeah just screwing with you guys!

>>10498825
oh boy that was a real zinger!
i love you anon and good luck.

>>10498711
give it to me straight, will link moon or will companies use their own nodes or make deals with eachother totally skipping the token because they will be able to manually choose reigistered?ID'd nodes ?

>>10499077
hoy boy this again.
If you want to feed data into your smartcontract, you can make your own oracle to just query an api. But in this case, your smartcontract is just sitting on a server.

If you want to make an agreement between two parties that dont trust eachother (IE in different regulatory environments) you would use a decentralized blockchain to host your smartcontract. These two parties would need decentralized oracles... they would agree upon a 3rd party rep company that specializes in their field who would then select nodes among their list to fulfill the data fetch. To make good money running a node you will have to register with these parties but it will be almost impossible to cut everyone out of the loop.

If you want to stay anon, have a criminal background, have poor credit...etc... the only chainlink jobs you will get is validating custom hentai delivery.

>>10499154
So Richard Heart was right, you need a centralized service to make it all work.
You need to use a 3rd party company to select the nodes that fetch your data?
WTF, Chainlink is no better than Oraclize then....

>>10499363
nooo....
first off...no downtime
secondly, if a rep company allows 1 sybil attach, it's dead. Hundreds will be ready to take its place.

Reputation providers are just as decentralized as node operators.

>>10499154
>you can make your own oracle to just query an api. But in this case, your smartcontract is just sitting on a server.
why make your own oracle or pay for oraclize service when CL will create it for you for free to use. A company can set up multiple nodes at different locations with different ISP/whatever making it harder to compromise than a single centralized oracles. Everything while using 0 (ZERO) link tokens.

>two parties that dont trust eachother
yea, and how many cases like that do we have? the entire western economy is build on trust and reputation, in most cases companies DO trust eachother, trust is not the problem, they would only be worried if some another party/hackers wouldn't compromise the deal, which could be avoided by running multiple nodes by boths sides of the deal while using 0 (zero) links for that.

It's not about trusting eachother or not, it's about preventing bad actors from compromising things and that could be done with quasi-decentralization by running multiple nodes by parties involved in the contracts.

This is the problem I've been thinking about, why not force the random node selection making it truly decentralized? I think I know why Sergey didn't go that route, simply because companies would fork CL code for personal use once it's finished, make a small adjustment and have it as they like, so Sergey would rather give them freedom in terms of decentralization-level they need than enforce anything on them.

I know there will be cases where smaller projects and retail customers would go for random node selection involving LINK tokens, but I'm afraid the dream that "institutions/banks/companies" will use it the way that makes as holders rich is never come true

>>10498825
Thanks, based Steve!

>>10499468
ok let's look at bond payments between the US and EU.
Payments have to be batched (relative to what they could be with smartcontracts) because someone has to be responsible in the case of mistake of fraud. If they were to switch to smartcontracts, these payments wouldn't need as much manpower and would increase liquidity by executing more often and far quicker.

Now why does this type of transactions only happen between large banks? Trust. With smartcontracts, your garage band bank could get in on the action too because it's trustless. Banks LOVE the idea of offloading as much of their balance sheet as they can to other parties, institutional or retail.

We aren't even talking link here. You either believe that decentralized, trustless smartcontracts will impact the world or you don't. If they will, then betting on a functioning oracle is the one of the highest return potentials around today.